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Council approves TIF ordinance for downtown improvements after school compensation added
Summary
London City Council amended and approved Ordinance 209-24 to authorize tax-increment financing (TIF) and related agreements for certain downtown property; the amendment inserted an approved London City School Board compensation agreement as an attachment.
The London City Council voted to adopt Ordinance 209-24, which declares improvement of certain real property in the city to be a public purpose and authorizes a tax increment financing (TIF) agreement and related instruments under cited Ohio Revised Code sections. Council members amended the ordinance to include a recently approved London City School Board compensation agreement as an attachment before final adoption.
The ordinance as read cites Ohio Revised Code sections governing urban redevelopment and TIF,…
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